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NEW YORK (TheStreet) -- Tata Motors (TTM) - Get Tata Motors Ltd. Report fell 5.2% to $27.33 Monday after the sudden death of managing director Karl Slym over the weekend.

According to the Wall Street Journal, Slym died after falling from the 22nd floor of the Shangri-La hotel in Bangkok. The executive was in the city attending a board meeting of Tata's Thai division. Police are investigating the case as a possible suicide due to a note left inside Slym's hotel room.

Slym joined Tata in October 2012 and helped further the company's plans to grow sales. Sales of the automaker's Nano minicar have slipped since 2009, however, despite its sub-$2,500 price tag.

Tat's sales dropped 42% in its home country of India in December 2013, declining a total of 31% for the whole year.

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